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(Bloomberg) -- In late April, Indian officials in plainclothes raided the Bengaluru offices of Byju’s, seizing laptops and publicly linking the world’s most valuable education-technology startup with possible foreign exchange violations.Most Read from BloombergChina Replaces Foreign Minister After Mysterious Absence‘We Were Wrong’: Morgan Stanley’s Wilson Offers Stocks Mea CulpaTwitter Turning Into X Set to Kill Billions in Brand ValueRolex, Patek Prices to Keep Falling as Supplies Remain High,

Byju Raveendran, founder and CEO of education-technology start-up Byju's, has been in crisis mode since his company was raided in late April.

In late April, Indian officials in plainclothes raided the Bengaluru offices of Byju's, seizing laptops and publicly linking the world's most valuable education-technology startup with possible foreign exchange violations.

With a planned $1 billion equity fundraise from Middle Eastern investors still in limbo, Raveendran broke down in tears defending his company, according to people who attended the calls.

Indian firm has struggled to overcome issues with liquidity